Nifty at all-time high after 14 months: Touched the level of 26,295, Sensex rose by 100 points; Increase in auto and banking shares

Nifty has made an all time high of 26,295 today i.e. on 27th November. At present it is an increase of about 50 points, it is trading at the level of 26,250. Earlier, the all-time high of Nifty was 26,277. It was made 14 months before that on 27 September 2024.

Sensex is trading at the level of 85,750 with a rise of more than 100 points. Today there is an increase in auto, finance and banking shares. Sensex made an all-time high of 85,978 on September 27, 2024.

Reason for rise in stock market

Praveesh Gaur, Senior Technical Analyst, Swastika Investmart said that one reason for today’s rise is the strength in global markets. Asian indices are trading firmly higher, while Wall Street ended last night on a positive note.

• This improved global risk sentiment supported Indian equities and encouraged fresh buying at lower levels. Another important positive trigger is the renewed enthusiasm over a possible interest rate cut by the US Federal Reserve.
• Short covering is being considered as the second reason for the rise in the market. The stock market had declined in the last three sessions. Experts believe that this is why short covering has occurred.

Global market boom

• Asian Market: Korea’s Kospi is trading up 0.85% at 3,994 and Japan’s Nikkei is up 1.30% at 50,203. Hong Kong’s Hang Seng is down 0.14%.
• US Market: On November 26, the Dow Jones closed at 47,427, up 0.67%. At the same time, Nasdaq Composite rose by 0.82% and S&P rose by 0.69%.

Domestic investors are controlling the market On November 26, foreign investors (FIIs) bought shares worth ₹4,969 crore. Domestic investors (DIIs- big funds of our country) bought ₹5,984 crore.

So far this month- FIIs have sold shares worth ₹12,449 crore. Whereas, DIIs bought shares worth ₹68,994 crore. In such a situation, it becomes clear that the market has more support from domestic investors.

There was a rise in the market yesterday Before this, yesterday i.e. on 26th November, the market was bullish. Sensex rose 1023 points to close at 85,610. Nifty also had a rise of 321 points, it closed at 26,205.

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